Since the advent of online banking services, customers have had several different ways of communicating with their banks. Banks need to monitor all of these incoming customer requests and respond to them in the most efficient way possible. Further, each of the various channels of communication represents a valuable way to segment customers to not only improve how they perceive a bank’s brand but also to market banking products to them better.
Although there are established use-cases for AI applications in the business world, the claims that AI vendors make about returns from their software are often exaggerated. What is also not apparent amongst the AI hype is that adopting AI and machine learning is far more challenging than it might seem.
Insurers are looking to leverage all of the digital customer data that is now available to them, including one new data source that some of the largest insurance enterprises claim are actively collecting: real-time data streams from the Internet of Things (IoT).
Chatbots are one of the most talked-about uses of natural language processing (NLP) software in business. Some of the most common application areas for chatbots include customer service, healthcare, and financial advisory.
Daniel Faggella, CEO and founder at Emerj, kicked off the Technology Association of Georgia's first major event on AI Ethics in May 2019. While he could not be physically present at the event, Daniel addressed the audience through a short video on AI ethics.
This week we speak with David Carmona, General Manager of AI at Microsoft. Carmona discusses how redefining a business process is a very different kind of AI adoption project than working on something that is horizontal.
Robotic Process Automation (RPA) is a rule-based software solution that automates repetitive tasks without any self-learning capabilities. It is not inherently artificial intelligence. RPA vendors now offer AI-tools as add-ons to their automation platforms. This includes RPA applications in banking where some form of AI, such as computer vision or natural language processing, is a part of the automation workflow.
The insurance industry is responsible for a multitude of sensitive financial data concerning both its customer base and staff. Any breach to an insurance company's CRM or other claims database could compromise the personal data of multiple people at once, which puts the company at risk as well.